MB Financial (NASDAQ:MBFI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, September 20th. The firm presently has a $53.00 price objective on the bank’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 19.72% from the company’s previous close.
According to Zacks, “MB Financial, Inc. is a bank holding company which conducts a commercial banking business through Manufacturers Bank. “
Several other analysts also recently commented on MBFI. BidaskClub downgraded MB Financial from a “hold” rating to a “sell” rating in a research note on Thursday, June 28th. SunTrust Banks downgraded MB Financial from a “buy” rating to a “hold” rating in a research note on Friday, June 1st. Finally, ValuEngine cut MB Financial from a “buy” rating to a “hold” rating in a report on Monday, June 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $48.31.
MB Financial stock traded down $0.35 during mid-day trading on Thursday, hitting $44.27. 789,589 shares of the company’s stock were exchanged, compared to its average volume of 605,399. The company has a market capitalization of $3.88 billion, a PE ratio of 18.52, a PEG ratio of 1.54 and a beta of 1.03. MB Financial has a fifty-two week low of $39.15 and a fifty-two week high of $51.59. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34.
MB Financial (NASDAQ:MBFI) last issued its quarterly earnings data on Wednesday, July 18th. The bank reported $0.68 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.68. The business had revenue of $247.38 million for the quarter, compared to the consensus estimate of $241.37 million. MB Financial had a return on equity of 7.92% and a net margin of 27.78%. During the same quarter last year, the business posted $0.51 EPS. Analysts predict that MB Financial will post 2.86 EPS for the current fiscal year.
In other news, VP Jill E. York sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $48.75, for a total value of $243,750.00. Following the completion of the transaction, the vice president now owns 62,691 shares in the company, valued at approximately $3,056,186.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.69% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY grew its holdings in shares of MB Financial by 2.2% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 48,744 shares of the bank’s stock valued at $2,276,000 after acquiring an additional 1,064 shares in the last quarter. OLD Second National Bank of Aurora lifted its stake in MB Financial by 8.9% in the 2nd quarter. OLD Second National Bank of Aurora now owns 14,041 shares of the bank’s stock valued at $656,000 after purchasing an additional 1,143 shares during the last quarter. Arizona State Retirement System lifted its stake in MB Financial by 2.7% in the 2nd quarter. Arizona State Retirement System now owns 58,373 shares of the bank’s stock valued at $2,726,000 after purchasing an additional 1,532 shares during the last quarter. Rhumbline Advisers lifted its stake in MB Financial by 1.0% in the 2nd quarter. Rhumbline Advisers now owns 166,940 shares of the bank’s stock valued at $7,796,000 after purchasing an additional 1,652 shares during the last quarter. Finally, GHP Investment Advisors Inc. lifted its stake in MB Financial by 10.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 21,213 shares of the bank’s stock valued at $991,000 after purchasing an additional 1,933 shares during the last quarter. Institutional investors own 74.18% of the company’s stock.
MB Financial Company Profile
MB Financial, Inc operates as a bank holding company for MB Financial Bank, N.A. that provides various financial services to small and middle market businesses, and individuals in the United States. The company operates through three segments: Banking, Leasing, and Mortgage Banking. The Banking segment offers commercial banking products, including working capital loans and lines of credit; accounts receivable financing; inventory and equipment financing; industrial revenue bond financing; ESOP financing; business acquisition loans; owner occupied real estate loans; asset-based loans; and financial, performance, and commercial letters of credit.
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